Wells Fargo & Company MN cut its stake in shares of MCBC Holdings, Inc. (NASDAQ:MCFT) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 494,690 shares of the company’s stock after selling 7,576 shares during the quarter. Wells Fargo & Company MN owned 2.65% of MCBC Holdings worth $9,670,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in MCBC Holdings in the first quarter valued at $103,000. Bank of Montreal Can acquired a new stake in MCBC Holdings in the first quarter valued at $170,000. Rhumbline Advisers acquired a new stake in MCBC Holdings in the second quarter valued at $371,000. Schwab Charles Investment Management Inc. lifted its holdings in MCBC Holdings by 96.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 29,900 shares of the company’s stock valued at $585,000 after acquiring an additional 14,700 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in MCBC Holdings by 0.3% in the second quarter. Alps Advisors Inc. now owns 30,598 shares of the company’s stock valued at $598,000 after acquiring an additional 79 shares during the period. 95.46% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on MCFT shares. TheStreet raised MCBC Holdings from a “d+” rating to a “b-” rating in a report on Thursday, September 7th. B. Riley reissued a “buy” rating and issued a $24.00 target price (up previously from $21.50) on shares of MCBC Holdings in a report on Tuesday. Aegis started coverage on MCBC Holdings in a report on Monday. They issued a “buy” rating and a $26.00 target price for the company. ValuEngine raised MCBC Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, BidaskClub downgraded MCBC Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $25.00.

Shares of MCBC Holdings, Inc. (MCFT) opened at 21.53 on Thursday. The firm has a 50-day moving average price of $19.49 and a 200-day moving average price of $19.49. MCBC Holdings, Inc. has a 12-month low of $10.84 and a 12-month high of $21.82. The firm has a market cap of $401.25 million, a P/E ratio of 20.50 and a beta of 1.23.

MCBC Holdings (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, September 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. MCBC Holdings had a return on equity of 443.78% and a net margin of 8.56%. The company had revenue of $58.30 million during the quarter, compared to analyst estimates of $56.89 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities research analysts expect that MCBC Holdings, Inc. will post $1.63 earnings per share for the current fiscal year.

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MCBC Holdings Company Profile

MCBC Holdings, Inc (MCBC) is a holding company. The Company is a designer and manufacturer of inboard tournament ski boats and V-drive runabouts under the MasterCraft brand. The Company operates through two segments: MasterCraft and Hydra-Sports. The MasterCraft product brand consists of recreational performance boats primarily used for water skiing, wakeboarding and wake surfing, and general recreational boating.

Institutional Ownership by Quarter for MCBC Holdings (NASDAQ:MCFT)

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